Pioneer Natural Resources (NYSE:PXD) Price Target Raised to $190.00


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Pioneer Natural Resources (NYSE:PXD) had its price objective upped by Truist from $175.00 to $190.00 in a research note issued to investors on Monday morning, The Fly reports.

A number of other research firms have also issued reports on PXD. Piper Sandler raised their target price on shares of Pioneer Natural Resources from $220.00 to $226.00 and gave the company an overweight rating in a research note on Monday, April 5th. Wells Fargo & Company raised their price target on shares of Pioneer Natural Resources from $192.00 to $204.00 and gave the stock an overweight rating in a research report on Monday, April 5th. The Goldman Sachs Group started coverage on shares of Pioneer Natural Resources in a research report on Thursday, January 21st. They issued a buy rating on the stock. Citigroup raised their price target on shares of Pioneer Natural Resources from $154.00 to $196.00 in a research report on Tuesday, March 23rd. Finally, Scotiabank lowered shares of Pioneer Natural Resources from a sector outperform rating to a sector perform rating and decreased their price target for the stock from $180.00 to $175.00 in a research report on Thursday, April 15th. Six research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and an average target price of $172.21.

PXD stock opened at $148.58 on Monday. The company has a 50 day moving average of $158.04 and a two-hundred day moving average of $122.08. Pioneer Natural Resources has a 12-month low of $67.00 and a 12-month high of $169.49. The company has a market cap of $32.18 billion, a price-to-earnings ratio of 145.67, a PEG ratio of 2.72 and a beta of 1.92. The company has a quick ratio of 1.32, a current ratio of 1.43 and a debt-to-equity ratio of 0.27.

Pioneer Natural Resources (NYSE:PXD) last posted its earnings results on Monday, February 22nd. The oil and gas development company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.37. Pioneer Natural Resources had a net margin of 2.30% and a return on equity of 4.67%. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period last year, the business posted $2.36 EPS. Pioneer Natural Resources’s revenue was down 30.3% compared to the same quarter last year. On average, research analysts anticipate that Pioneer Natural Resources will post 1.59 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 14th. Investors of record on Wednesday, March 31st were issued a dividend of $0.56 per share. This is an increase from Pioneer Natural Resources’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend was Tuesday, March 30th. Pioneer Natural Resources’s dividend payout ratio (DPR) is currently 27.38%.

In other Pioneer Natural Resources news, CEO Scott D. Sheffield sold 29,882 shares of the firm’s stock in a transaction dated Friday, March 5th. The shares were sold at an average price of $162.73, for a total value of $4,862,697.86. Following the completion of the sale, the chief executive officer now owns 456,949 shares in the company, valued at approximately $74,359,310.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Richard P. Dealy sold 9,890 shares of the firm’s stock in a transaction dated Friday, March 5th. The shares were sold at an average price of $163.24, for a total transaction of $1,614,443.60. Following the completion of the sale, the chief operating officer now owns 137,506 shares of the company’s stock, valued at approximately $22,446,479.44. The disclosure for this sale can be found here. Insiders have sold a total of 52,338 shares of company stock valued at $8,536,408 over the last three months. 0.91% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. CX Institutional increased its position in Pioneer Natural Resources by 37.8% in the 1st quarter. CX Institutional now owns 255 shares of the oil and gas development company’s stock valued at $40,000 after acquiring an additional 70 shares in the last quarter. Canandaigua National Corp grew its position in shares of Pioneer Natural Resources by 3.4% during the 1st quarter. Canandaigua National Corp now owns 2,285 shares of the oil and gas development company’s stock worth $363,000 after buying an additional 75 shares during the period. BKD Wealth Advisors LLC grew its position in shares of Pioneer Natural Resources by 2.2% during the 4th quarter. BKD Wealth Advisors LLC now owns 3,633 shares of the oil and gas development company’s stock worth $414,000 after buying an additional 77 shares during the period. Private Capital Group LLC grew its position in shares of Pioneer Natural Resources by 18.4% during the 1st quarter. Private Capital Group LLC now owns 651 shares of the oil and gas development company’s stock worth $104,000 after buying an additional 101 shares during the period. Finally, Eaton Vance Management grew its position in shares of Pioneer Natural Resources by 0.5% during the 4th quarter. Eaton Vance Management now owns 24,783 shares of the oil and gas development company’s stock worth $2,823,000 after buying an additional 129 shares during the period. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Pioneer Natural Resources Company Profile

Pioneer Natural Resources Company operates as an independent oil and gas exploration and production company in the United States. The company explores for, develops, and produces oil, natural gas liquids (NGLs), and gas. It has operations in the Permian Basin in West Texas. As of December 31, 2020, the company had proved undeveloped reserves and proved developed non-producing reserves of 31 million barrels of oil, 17 million barrels of NGLs, and 88 billion cubic feet of gas; and owned interests in 11 gas processing plants.

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